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Pang Young, chairman of the Zhejiang Youth Automotive Group ("Young Vehicle"), has been very busy recently, but his mood is not easy. After successfully signing Spyker in December last year, on the morning of the 22nd of this month, Young Automotive signed a contract with the High-tech Zone Management Committee of Jinan City. Young cars will build Spyker Phoenix Autos, new energy buses and power batteries in the Hi-tech Zone. The total investment is 4.8 billion yuan.
On the one hand is a generous investment, while in other cities in China, there is a diametrically opposite scene.
In Hangzhou, Shandong and other places, young Lotus employees of the youth automobile passenger car companies once again faced a year without year-end bonuses. It is because they have not received a year-end award for at least four consecutive years. In Beijing, because sales are insufficient to support, one of the three young sales outlets of Lotus in Beijing has already retreated, and the other two are basically out of business.
This may seem very dramatic. There is no business logic to be found. When you look deeper, you will find that this is actually the aftereffect of the blind expansion of the auto industry. In order to quickly expand the automotive industry, Pang Young, like his fellow Taizhou Geely Group Chairman Li Shufu, chose to expand rapidly and use government resources to operate at multiple locations.
Not everyone is as lucky as Li Shufu. The passenger car has a large investment in the early stage, while the competitiveness of the latter stage needs the industry scale to support the field. The sales volume of young Lotus has always been at the lowest end of the industry, which also makes the five Lotus passenger car production bases Pang Young's head curse. Only by continuously adding new resources and using new resources as a bargaining chip, can we continuously obtain support from the resources of the local governments that are eager to seek success, and everything can turn smoothly again.
In the past few years, the expansion of young automobiles has become a common practice. In addition to the expansion of capacity of passenger vehicles, the annual production of youth vehicles with 200 heavy trucks has three production bases for heavy trucks. This also made Pang Youth's new expansion project questioned. Comprehensive Swedish local media quoted a veteran in the automotive industry that youth cars have become an unwelcome car company in Sweden. Its alliance with Spyker is considered to be a show for nothing but for the purpose of packaging an internationalization. The car project, and then China to obtain local government policy support.
The five bases are only one complete process
"In addition to not having year-end awards every year, the salary of young Lotus employees has been paid for two months for many years and hasn't risen over the past four or five years," informed sources said. In fact, after entering the passenger car industry, Pang Young never got rid of the loss. Informed sources disclosed that only three years before 2011, the total loss of young Lotus was as high as 500 million yuan, and last year, it still did not get out of the quagmire of losses.
The loss of young Lotus is mainly determined by its sales volume. Young Lotus sales volume is 100,000 for three years, which means that it has sold more than 30,000 vehicles a year, which is only half of its target sales volume. The people familiar with the situation also revealed that 30,000 vehicles are actually only wholesale, and the actual sales volume is even lower.
The second is due to its high operating costs. Although the production and sales volume is behind in the domestic automobile manufacturers, the young Lotus production base does not lose out to any automobile company in the medium-sized scale. Young Lotus has two factories in Hangzhou and two factories in Shandong. Together with the Skylark plant acquired in Guizhou, there are five production sites, claiming 800,000 vehicles.
The automobile factory is a streamlined operation, and the young lotus production is almost never normal. Due to the lack of capital investment, the five production bases of the young Lotus, except for the factory of the original Lark that was acquired in Guizhou, none of the other four bases have a complete production process. "Young Lotus car, do stamping in Hangzhou, to do welding equipment to Jinan, to Taian to do painting, and then return to Hangzhou to do the assembly. Only the high cost of logistics can be imagined." Informed sources revealed.
Who has dragged a commercial vehicle?
Pang Young, who is the same person as Li Shufu of Taizhou, Zhejiang Province, started his business at the age of 21. He has the savvy business mindset of the Zhejiang people, from plastic bags to rubber and then to the bus business. In 2001, young people began to cooperate with Neoplan and established Jinhua Neoplan Vehicle Co., Ltd. to produce high-end passenger cars. Long-distance tourist buses have maintained their leading position in the high-end passenger car industry since 2001, and their domestic market share has once exceeded 80%.
However, Pang Yang also has miscalculations. In early 2004, Young Automotive and Guihang Group jointly established Guizhou Guihang Youth Sedan Manufacturing Co., Ltd.. After obtaining the Zhuhai Life Certificate, the Pang Youth who intended to use a commercial vehicle to maintain a passenger car did not expect a passenger car company. The investment in production capacity is 100 million yuan. Pang Young's profit on the bus is not enough to support passenger car investment. As a result, one of his own decisions not only failed to develop a passenger car, but his original commercial vehicle business was also dragged down.
Five years ago, the number of young passenger cars had already reached 4,000, and the competitors were still relatively weak. Yutong Bus was only 2,000 cars at that time. At present, the annual production and sales of Yutong buses have surpassed 50,000, while young passenger buses still hover around 4,000.
On the surface, the bus industry engine and chassis are all bought, and there is not much technical content. However, in fact, it is still an urgent task for bus companies to improve the technical content. Bus companies compete with who has a stronger R&D team, whose product testing methods are stronger and whose product service capabilities are stronger.
Now youth buses have fallen behind in the industry. “Because the sedan industry needs a lot of capital, Pang Young does not have the financial resources to invest in buses.†A typical example in the industry’s assessment is that electrophoretic processes ranging from RMB 45 to RMB 100 million are invested. The technology that can prevent rust on the surface of passenger cars is now the basic technology of the bus companies, and young cars have not invested in this technology.
Wishful thinking fell
Pang youth initially built a production base, or based on the ideals and ambitions of the automotive industry. In the past few years when the market was crazy, who would have developed faster and who would be able to occupy the market more. This also makes Pang Young face the conservative development or leap-forward development, choose the latter.
At that time, private enterprises represented by Geely were all in a new period of development. They crossed out and cooperated with various local governments. Local governments gave money to the local governments. Private companies took advantage of brands and resources to set up factories there and thoughts of local governments. Coincide. After the auto company has obtained the land granted by the local government free of charge or preferential treatment, it will use the land for mortgage and obtain development funds.
Geely is a typical representative. Through the first expansion of the layout, it has successively laid out six or seven bases including Jinan, Xiaoshan and Xiangtan, and through the operation of the capital market, it has linked the new base with the capital market and has obtained development funds. Although it has encountered bottlenecks in the decline in capacity control profits, it ultimately relied on the success of product strategy transformation to survive the dangerous period.
Compared to Geely, Pang Young was not so lucky. First of all, the huge group is not a listed company. Although the expanded new base can also receive support from the local government's preferential policies and land funds, neither the amount of the financing nor the flexibility of the financing is comparable to the listed company. Pang Young has also been pursuing the listing for years, but it has been fruitless because of profit.
In terms of product planning, the strength of the Youth Group and Geely Group is also unmatched. Because of their different strengths, Pang Yang is more concerned about the expansion of the base and does not plan the product itself.
In the passenger car project, although the Lotus brand was rushed into the country and forced the real Lotus sports car to enter China, it had to adopt the trademark of “Lutesâ€. But Pang Young, who wanted to build a passenger car with the help of the Lotus brand, did not think that since the Youth Group itself had nothing to do with Lotus Motor, it was jointly built with the lotus project under the Malaysian company Proton Inc., a shareholder of the Lotus Sports Car. In the Chinese market, young people Lotus is more often seen as a Malaysian car than a British car. With the introduction of Lotus Motors without experience in passenger vehicles, owners of major websites and mainstream forums often complained that the car was “consecutiveâ€, had rough workmanship, had many problems in procedures, lines, etc. .
Last year, the youth car and the Lotus project were hand in hand six years later. Lotus technicians have withdrawn from the young Lotus. The future of the young Lotus product is also full of variables. Expansion at this time, have to say that Pang young people took another move.
The re-expansion of young cars depends on government resources